The UK has taken a decisive step in combating financial crime by imposing sanctions on a network linked to Iran's Zindashti group.
The 12 individuals and entities targeted are accused of facilitating crypto laundering and engaging in hostile activities, allegedly coordinated with Tehran.
According to investigators, the UK-registered exchanges Zedxion and Zedcex processed over $1 billion in transactions since 2021, primarily using Tether's USDT stablecoin on the Tron blockchain.
A significant portion of these transactions, approximately 87%, were deemed illicit by 2024, highlighting the network's extensive involvement in financial crime.